The Draft Decision of the RSPP Committee on Banks and Banks' Performance.

04.11.2011

On October 25, 2011 25 the Russian Union of Industrialists and Entrepreneurs (RSPP) hosted the round table on the theme "Launch of supervision at the microfinance and credit cooperation market: methodic approaches and practice", which was organized together by the National Partnership of Microfinance Market Stakeholders (NAMMS) and the RSPP Committee on banks and banks' performance. The issues of transition of supervisory full power at the microfinance market from the RF Ministry of Finance to the Federal Financial Markets Service, concept of monitoring and supervision, the issues of interaction between a regulator and the market participants – microfinance organizations and credit cooperatives were discussed at the event.

The meeting gathered more than 60 people. Among the participants there were the representatives of the Federal Financial Markets Service, the RF Ministry of Economic Development, the RF Ministry of Finance, the Russian Union of Industrialists and Entrepreneurs and other interested Ministries and administrations, and also the market representatives. Mikhail Mamuta, the President of the National Partnership of Microfinance Market Stakeholders spoke on behalf of NAMMS.

The leaders of the microfinance organizations, credit cooperatives and self regulating organizations shared their vision of the microfinance market development, cooperation with the regulator, and possible direction of joint efforts. The propositions on legislation improvement in the sphere of credit cooperation and microfinance performance were voiced. In particular, the offers to launch an analog of deposit insurance system for credit consumer cooperatives and MFIs and other suggestions were discussed.

The meeting resulted in a final decision of the round table, reflecting the position on the discussed issues of all participants. We offer your attention the draft Decision of the RSPP Committee on Banks and Banks' Performance.